Which of the following would contribute to a positive trade balance for a country?
A. importing financial services
B. having tourists visit the country
C. importing textiles
D. having foreign residents buy the government bonds of the country
Answer: B
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A publishing house is using 400 printers and 200 printing presses to produce books. The printers' wage rate is $20 and the price of a printing press is $100. The last printer added 20 books to total output, while the last press added 50 books to total output. In order to maximize the number of books published with a budget of $28,000, the publishing house
A. should use more presses and fewer printers because the last dollar spent on a press yielded more output than the last dollar spent on a printer. B. should continue to use 400 printers and 200 presses. C. should use more printers and fewer presses because printers cost less than presses. D. should use more presses and fewer printers because the marginal output of the last press was more than the marginal output of the last printer. E. should use more printers and fewer presses because the last dollar spent on a printer yielded more output than the last dollar spent on a press.
For which of the following markets would the fallacy of composition least likely apply?
A. Poultry market B. Labor market C. Market for savings and investment D. World market for oil
When the Fed wants to undertake open market operations, it
A. buys or sells securities through the trading desk at the New York Federal Reserve Bank. B. can require all member banks to buy from or sell to it. C. buys from or sells to the U.S. Treasury. D. can require all commercial banks to buy from or sell to it.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.